Mumbai: The Dalal Street on Monday had one of its most negative sentiment days as fears that the government could go for stricter lockdowns to curb the second wave of Covid-19, hampering the economic recovery, spooked market participants.
Such was the panic selling that investor wealth tumbled by nearly Rs 8 trillion on the BSE with the m-cap sliding to Rs 201 trillion by close.
Among the headline indices, the benchmark S&P BSE Sensex plunged nearly 1,900 points while the Nifty50 cracked about 590 points in the intra-day deals to hit lows of 47,693 and 14,249, respectively.
At close, the headline indices were 3.5 per cent lower each at 47,883 levels and 14,311 level, down 1,708 points and 524 points, respectively.
Only one constituent on the Sensex (Dr Reddy’s Labs) and four on the Nifty (Dr Reddy’s Labs, Cipla, Divis Labs, and Britannia) ende the day in the green. Among the losers were Tata Motors, Adani Ports, IndusInd Bank, Bajaj Finance, UPL, SBI, Hindalco, and Shree Cement, down in the range of 5.6 per cent to 10 per cent.
Broader markets, on the other hand, faced an even severe blow with the S&P BSE MidCap and SmallCap indices dropping 5 per cent each.
Sectorally, the Nifty PSU Bank index plummeted 9 per cent, Nifty Realty slipped 7 per cent, and Nifty Bank, Private Bank, Metal, and Auto indices skidded between 5 per cent and 6 per cent.
